Tag Archives: btcusdt

The American venture capital investor Tim Draper predicted that bitcoin’s price will surge in the future due to the cryptocurrency’s advantages over fiat currency. The billionaire claimed in 2020 that the COVID-19 pandemic will have a disastrous consequence on the global economy, but it will be a flourishing factor for BTC. The primary digital asset climbed to an all-time high of almost $70,000 the following year, whereas a financial crisis and record inflation rates...

Bitcoin’s price is yet to recover above the $30K level after falling below a few days ago. However, the price is currently being supported at around $29,000. Technical Analysis By: Edris The Daily Chart: On the daily timeframe, the price has been consolidating in a very tight range below the $30K level. The 50-day moving average is around the $29K mark at the moment. If it gets broken to the downside, the 200-day moving average located around the $27K level would be the next...

The Federal Reserve rose its target interest rate by 25 basis points on Wednesday, in line with market expectations. This brings the central bank’s rate to over 5.25% – one of its highest levels since the lead-up to the 2008 financial crisis. The latest hike marks the Federal Reserve’s 11th rate hike over its last 12 policy meetings dating back to March 2022. The central bank’s mission over the past year has been to quell once rampant inflation, which peaked at 9.1% in June...

Bitcoin whales typically capture the stagnant market conditions to accumulate more coins. This trend continued even during the underwhelming price performance of Bitcoin in recent months, as new analysis suggests a dramatic uptick in whale activity during the period. Glassnode’s latest edition of “The Week On-Chain,” observed that the aggregate Whale balance has declined by approximately 255k BTC since May 30. This was found upon isolating coins flowing between Whale entities...

According to the crypto market data provider Kaiko, Bitcoin’s correlation with the S&P 500 Index has dropped to a two-year low at just 3%, highlighting the asset’s increasing independence from traditional finance.  Some experts have argued over the years that such a development could act as a catalyst and push BTC’s price to a new all-time high. As revealed by Kaiko, the last time Bitcoin’s correlation with the S&P 500 Index stood at 3% was in August 2021. 📈👀...

Bitcoin (BTC)’s supply and demand dynamics suggest that the asset could surge as high as $180,000 by April 2024, according to a research note from Fundstrat on Monday. The forecast – which precedes the U.S. central bank’s next meeting – largely rests on a Bitcoin spot ETF being approved in the United States, which the markets research firm suspects will blow apart BTC’s current price equilibrium. The Impact Of A Bitcoin ETF At present, Fundstrat finds that Bitcoin experiences...

Bitcoin’s price has recently fallen below the key $30K support level. Despite this, investors still have hope that the market will rebound. Technical Analysis By: Edris The Daily Chart: On the daily timeframe, the price has been consolidating above the $30K level before dropping below it. The 50-day moving average, located around the $29K mark, is currently providing support for the price. If this level holds, the market will be more likely to rally toward the $38K resistance...

According to Glassnode’s estimations, long-term holders (LTHs) of bitcoin currently own 14.52 million BTC, an all-time high, leaving just 25% for short-term holders and speculators. The accumulation spree comes despite the fact that BTC’s price has stayed relatively flat in the past month, ranging between approximately $29,000 and $31,000.  The updated figures, presented by the blockchain data provider Glassnode, showed that bitcoin investors who have been part of the...

The United States Securities and Exchange Commission (SEC) has reportedly put six spot Bitcoin exchange-traded fund (ETF) applications under review, marking the first step before officially approving or rejecting them. Finance giants, including BlackRock and Fidelity Digital Assets, have recently displayed ambitions to launch such ETFs, infusing enthusiasm in the crypto space and positively affecting the market. Waiting for the Next Step As reported by Reuters, the US...

Nassim Nicholas Taleb – the author of the book “The Black Swan” who is among crypto’s biggest critics – launched another bashing manifest against the asset class. He believes the mania surrounding bitcoin and the alternative coins have started fading out because young people have turned their focus toward Artificial Intelligence (AI). The Latest Dose of Criticism In one of his recent tweets, Taleb claimed that the crypto hype is “starting to peter out” due to youngsters’ new...